Table 2 Prior distributions for the analysis of investment changes
Standard Deviations | \({{{{{\boldsymbol{\sigma }}}}}}{{{{{\boldsymbol{ \sim }}}}}}{{{{{\boldsymbol{HalfCauchy}}}}}}\left({{{{{\boldsymbol{0}}}}}}{{{{{\boldsymbol{,}}}}}}{{{{{\boldsymbol{2}}}}}}\right)\) |
|---|---|
Regression Coefficients | \(\beta \sim {N}({{{{\mathrm{0,3}}}}})\) |
Prior for the correlation matrix | \(R \sim {LKJcorr}(2)\) |